The birthday of Bitcoin Cash is August 1, 2017. This was the day when the Bitcoin chain split and led to the appearance of Bitcoin Cash. The reason for this split was the slowdown of Bitcoin’s transactions and the growth of its commissions caused by the small size of the block – only 1 megabyte. Bitcoin’s holders started talking about its obsolescence and the developers reacted to such conversations very quickly – a new 8 megabytes fork
Different exchanges disagreed on its tickets. Now there are two of them: BCH and BCC. It was good for Bitcoin Cash holders that the users did not rush to sell newborn cryptocurrency. This led to the rapid growth of the crypto coin, attracted the attention of speculators and people started to pump. As a result, many well earned on it and, thus, provided the cryptocurrency a pride of place in the general list of cryptocurrencies.
How to become a Bitcoin Cash holder?
You will have to start with the classics – the first step to get a promising new currency will be the acquisition of usual Bitcoins. Then you should go to the cryptocurrency exchange. There traders will have an opportunity to exchange classic Bitcoins for a promising Bitcoin Cash. The official Bitcoin Cash portal will help you to navigate: it provides the full lists of exchanges and wallets.
Bitcoin Cash prospective
To assess the possible prospective, it
is necessary to take into account 4 important points:
- BCC is tied to dollar.
- BCC originally is a product, albeit quite specific. So, its cost will depend on the balance of the two forces: the supply of this cryptocurrency and the demand for it.
- BCC is supported not only by China’s miners, who occupy 5% of this market, but also by serious exchanges, as well as two credible mining pools: BTC.com and Antpool; that implies that the value Bitcoin Cash will be stably increasing.
- The level of returns of this cryptocurrency depends on the level of computational complexity.
Apparently, the fluctuations in the exchange rate are simply inevitable. And those BCC holders, who are aimed at a short-term risk-free prospect of selling this cryptocurrency at favorable prices, will put pressure on it. Another positive point was that access to Bitcoin Cash is not guaranteed by every exchange. And this causes a significant supply increase. To analyze growth statistics in the pair BCC/dollar market experts recommend using candlestick charts.
Bitcoin Cash advantages
There are at least 5 advantages that make Bitcoin Cash a good investment:
- Expanded to 8 MB block size, which provides a significantly higher speed of transactions in comparison to bitcoin.
- High level of security and protection from the most serious attacks.
- High speed of the growth of the complexity of the BCH network compare to bitcoin, which has the most positive effect on the value of this cryptocurrency.
- A new generation of transactions, which are protected by exclusive Bitcoin Cash technology. Due to this, additional security functionality, that eliminates a quadratic hashing problem, but includes the input value signing, is available.
Lack of Lightning Network and SegWit functionality.